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BASSFIELD BANK CLOSES ITS DOORS Directors Assign No Reason For Its Suspension. Bassfield, Miss., April 24.-The People's Bank of this city closed its doors at noon yesterday. No reason was assigned by the bank's directorate for the suspension. The assets and liabilities of the bank are unknown.
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OFFICIALS EXAMINE BASSFIELD FAILURE Love, Harris and Hill Investigate Affairs of Institution. Councillor Sheehi has appointed Leon Tyrone of Prentiss, re ceiver for the defunct Peoples Bank of Bassfield, and Mr. Tyrone at once took charge of the movable assets of the bank and transferred them to Prentiss. Learning that such action had been taken, S. S. Harris of the board of state bank examiners, who is in this city, went at once to Bassfield o look into the matter. He found that the assets had been moved, and returned here last night and Bank Examiner Love, accompanied by State Bank Commissioner Hill, went to Bassfield Saturday to investigate the matter. Under the new law all failed or insolvent banks are subject to the custody and care of the bank examiners, and when receivers are appointed it must be upon the request of the examiner in charge. As the state bank law was enacted so recently it will take the public some months to learn 1 the provisions of the law in the case of bank failures.
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BASSFIELD'S BANK FAILURE. Love, Harris and Hill to Investigate Affairs of Institution. Hattiesburg, Miss.-Councillor Sheehi has appointed Leon Tyrone of Prentiss, receiver for the defunct Peoples Bank of Bassfield, and Mr. Tyrone at once took charge of the movable assets of the bank and transferred them to Prentiss. Learning that such action had been taken, S. S. Harris, of the board of state bank examiners, who is in this city. went at once to Bassfield to look into the matter. He found that the assets had been moved, and returned here last night and Bank Examiner Love, accompanied by State Bank Commissioner Hill, went to Bassfield Saturday to investigate the matter. Under the new law all failed or insolvent banks are subject to the custody and care of the bank examiners, and when receivers are appointed it must be upon the request of the examiner in charge. As the state bank law was enacted so recently it will take the public some months to learn the provisions of the law in the case of bank failures.